Expenses of Escrow Clause Samples

The 'Expenses of Escrow' clause defines which party or parties are responsible for paying the costs associated with maintaining and administering the escrow arrangement. Typically, this includes fees charged by the escrow agent, as well as any related administrative or transaction costs. For example, the clause may specify that the buyer and seller will split the escrow fees equally, or that one party will bear the full expense. Its core practical function is to allocate financial responsibility for escrow-related expenses, thereby preventing disputes and ensuring clarity regarding payment obligations.
Expenses of Escrow. The expenses of the escrow herein provided shall be paid in the following manner: a) The full cost of securing the title insurance policy referred to in subparagraph 6.(a) hereof shall be paid by Seller. b) The cost of preparing, executing and acknowledging any deed or other instruments required to convey title to Buyer in the Manner referred to in subparagraph 6.(a) hereof shall be paid by Seller. c) The cost of recording a grant deed required to convey title to the Property to Buyer as described in subparagraph 6.(a) hereof shall be paid by Buyer. d) Any tax imposed on the conveyance of title to the Property to Buyer under the Documentary Transfer Tax Act shall be paid by Seller. e) Any escrow fee charged by the escrow holder, in addition to the cost of the title insurance policy required by this Agreement, shall be paid the Seller and buyer in equal proportions.
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Expenses of Escrow. The Escrow Agent shall be entitled to compensation for out-of-pocket expenses incurred in performing the duties and obligations imposed under this Environmental Escrow Agreement and an annual fee in the amount of two-thousand and five hundred dollars ($2,500) for the term of this Environmental Escrow Agreement. All expenses incurred, and fees paid, shall be paid from the Environmental Deposit. The Escrow Agent shall not be entitled to any other fee or compensation.
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Expenses of Escrow. Seller shall pay (i) the CLTA premium for the Owner’s Title Policy, (ii) all county documentary transfer taxes and (iii) one-half of the escrow fees. Buyer shall pay (i) the ALTA portion of the premium for the Owner’s Title Policy, if Buyer elects ALTA coverage, (ii) the cost of an ALTA survey, if Buyer elects to obtain the same; (iii) the cost of any title endorsements Buyer elects to obtain, and (iv) one-half of the escrow fees. All other reasonable and customary expenses, fees and costs incurred in connection with the consummation of the Escrow, including, without limitation, document preparation charges and recording fees, shall be borne by the parties hereto in accordance with the custom and practice in Monterey County, California, or in the absence of custom, equally between the parties. Buyer and Seller shall each bear their own respective attorneys’ fees and accounting costs incurred in connection with this transaction.
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Expenses of Escrow. Title insurance premiums and all other costs or expenses of escrow shall be paid as follows: Seller shall pay the premium for a standard owner's policy of title insurance in the amount of the Purchase Price. In the event Buyer elects to obtain an extended coverage owner's policy of title insurance, Buyer shall pay for the increased premium for an extended coverage owner's policy of title insurance and the cost of any endorsements which the Buyer may require, but Buyer shall not delay the Close of Escrow or increase any amount to be paid by Seller hereunder. The cost of recording the Special Warranty Deed to Buyer and any loan fees or recording fees for loan documents shall be paid by Buyer. All expenses of Escrow and Closing, including other recording fees, shall be allocated to and paid by Seller and Buyer in accordance with the manner in which such costs are customarily paid by such parties in sales of similar property in Maricopa County, Arizona, provided, however, that each party shall pay its own attorneys fees.
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Expenses of Escrow. Seller shall bear and Escrow Holder shall discharge on Seller’s behalf out of the sums payable to Seller hereunder that portion of the costs and expenses associated with the Title Policy equal to the premium on a CLTA owner’s policy of title insurance with the same limits of liability as the Title Policy, the documentary transfer tax and all sales and use taxes required in connection with the transfer of the Property to Buyer, the sums necessary to obtain and the cost of recording any reconveyance or discharge of lien required hereby, one-half of Escrow Holder’s fee, and any additional costs and charges customarily charged to sellers in accordance with common escrow practices in Tulare County. Buyer shall bear and Escrow Holder shall discharge on Buyer’s behalf out of the sums deposited by Buyer hereunder the portion of the costs and expenses associated with the Title Policy in excess of that to be paid by Seller, the fee for recordation of the grant deed, one half of Escrow Holder’s fee, and any additional charges customarily charged to buyers in accordance with common escrow practices in Tulare County.
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Expenses of Escrow. Title insurance premiums, and all other costs or expenses of escrow shall be paid as follows: 7.5.1 Seller shall pay the premium for the Title Policy (as defined in Section 7.6, below), and shall reimburse Buyer for the actual cost of the Survey referred to herein, not to exceed the sum of Three Thousand Dollars ($3,000.00). Buyer shall pay any additional premium for Extended Coverage (as defined in Section 7.6, below), and the cost of any endorsements to the Title Policy requested by Buyer. 7.5.2 The cost of preparing, executing and acknowledging the Special Warranty Deed ( the "Deed") or other instruments required to convey fee title to Buyer shall be paid by Seller. 7.5.3 The cost of recording the Deed or other instrument required to convey fee title to Buyer shall be paid by Buyer. 7.5.4 All transfer taxes and/or documentary stamp charges shall be paid one-half by Seller and one-half by Buyer. 7.5.5 All other expenses of escrow shall be paid one-half by Seller and one-half by Buyer.
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Expenses of Escrow. Except as otherwise provided herein, Buyer shall pay one hundred percent (100%) to the Escrow Agent all fees, charges and costs connected with the Escrow, including, but not limited to, the Escrow fees, recording fees, notary fees, any state, county or city documentary stamps and any transfer taxes. Any costs of obtaining reconveyances under encumbrances or removing clouds on the title, and recording fees in connection therewith, shall be borne by Seller.
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Expenses of Escrow. Title insurance premiums and all other costs or expenses of escrow shall be paid as follows: (i) the cost of securing the above-referenced title insurance policy for Purchaser shall be paid by Seller; (ii) the additional cost of securing any extended coverage title policy, including the cost of any survey associated therewith, shall be paid by Purchaser;
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Expenses of Escrow. Seller shall pay (i) the CLTA premium for the Owner’s Title Policy, (ii) all county documentary transfer taxes, (iii) all escrow fees and (iv) one-half of the City transfer tax. Buyer shall pay (i) the ALTA portion of the premium for the Owner’s Title Policy, if Buyer elects ALTA coverage, (ii) the cost of an ALTA survey, if Buyer elects to obtain the same; (iii) the cost of any title endorsements Buyer elects to obtain and (iv) one-half of the City transfer tax. All other reasonable and customary expenses, fees and costs incurred in connection with the consummation of the Escrow, including, without limitation, document preparation charges and recording fees, shall be borne by the parties hereto in accordance with the custom and practice in Santa ▇▇▇▇▇ County, California, or in the absence of custom, equally between the parties. Buyer and Seller shall each bear their own respective attorneys’ fees and accounting costs incurred in connection with this transaction.
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Related to Expenses of Escrow

  • Expenses of Escrow Agent Except as set forth in Section 11 the Company shall reimburse Escrow Agent for all of its reasonable out-of-pocket expenses, including attorneys' fees, travel expenses, telephone and facsimile transmission costs, postage (including express mail and overnight delivery charges), copying charges and the like. All of the compensation and reimbursement obligations set forth in this Section shall be payable by the Company, upon demand by Escrow Agent. The obligations of the Company under this Section shall survive any termination of this Agreement and the resignation or removal of Escrow Agent.

  • Fees and Expenses of Escrow Agent The Company shall, without contribution by the Officer, compensate Escrow Agent for its services hereunder in accordance with Schedule A attached hereto and, in addition, shall reimburse Escrow Agent for all of its reasonable out-of-pocket expenses, including attorneys’ fees, travel expenses, telephone and facsimile transmission costs, postage (including express mail and overnight delivery charges), copying charges and the like. The additional provisions and information set forth on Schedule A are hereby incorporated by this reference, and form a part of this Escrow Agreement. All of the compensation and reimbursement obligations set forth in this Section 10 shall be payable solely by the Company upon demand by Escrow Agent. The obligations of the Company under this Section 10 shall survive any termination of this Escrow Agreement and the resignation or removal of Escrow Agent. Escrow Agent is authorized to, and may, disburse to itself from the Escrow Funds, from time to time, the amount of any compensation and reimbursement of out-of-pocket expenses due and payable hereunder (including any amount to which Escrow Agent or any Indemnified Party is entitled to seek indemnification pursuant to Section 9 hereof). Escrow Agent shall notify the Company Representatives and the Officer of any disbursement from the Escrow Funds to itself or any Indemnified Party in respect of any compensation or reimbursement hereunder and shall furnish to the Company Representatives and the Officer copies of all related invoices and other statements. The Officer, the Company and the Representatives hereby grant to Escrow Agent and the Indemnified Parties a security interest in and lien upon the Escrow Funds to secure all obligations with respect to the right to offset the amount of any compensation or reimbursement due any of them hereunder (including any claim for indemnification pursuant to Section 9 hereof) against the Escrow Funds. If for any reason funds in the Escrow Funds are insufficient to cover such compensation and reimbursement, the Company shall promptly pay such amounts to Escrow Agent or any Indemnified Party upon receipt of an itemized invoice.

  • Disbursement of Escrow Funds (a) Subject to Section 3(b) and Section 10, NCPS shall promptly disburse in accordance with the Instruction Letter the liquidated value of the Escrow Funds from the Escrow Account to Issuer by wire transfer no later than one Business Day following receipt of the following documents: (i) Minimum Offering Notice; (ii) Subscription Accounting substantiating the fulfillment of the Minimum Offering; (iii) Instruction Letter; and (iv) such other certificates, notices or other documents as NCPS may reasonably require; provided that NCPS shall not be obligated to disburse the liquidated value of the Escrow Funds to Issuer if NCPS has reason to believe that (A) Cash Investment Instruments in full payment for that number of Securities equal to or greater than the Minimum Offering have not been received, deposited with and collected by NCPS, or (B) any of the information or the certifications, representations, warranties or opinions set forth in the Minimum Offering Notice, Subscription Accounting, Instruction Letter or other certificates, notices or other documents are incorrect or incomplete. After the initial disbursement of Escrow Funds to Issuer pursuant to this Section 4(a), NCPS shall promptly disburse any additional funds received with respect to the Securities to Issuer by wire transfer no later than one Business Day after NCPS receives from or on behalf of Issuer (1) Issuer’s request for closing via NCPS’s online portal and (2) Issuer’s written verification that the subscriptions therefor are in good order. Any ACH transaction must comply with all applicable laws, rules, regulations, codes and orders of applicable governmental, regulatory, judicial and law enforcement authorities and self-regulatory authorities (collectively, “Law”), including, without limitation, NACHA’s operating rules that apply to the ACH network as in effect from time to time. NCPS is not responsible for errors in the completion, accuracy or timeliness of any transfer properly initiated by NCPS in accordance with joint written instructions occasioned by the acts or omissions of any third party financial institution or a party to the transaction, or the insufficiency or lack of availability of funds on deposit in any account. (b) No later than three Business Days after receipt from Subscriber of any required payment instructions and receipt by NCPS of written notice: (i) from Issuer Party that Issuer Party intends to reject a Subscriber’s subscription; (ii) from Issuer Party that there will be no closing of the sale of Securities to Subscribers; (iii) from any federal or state regulatory authority that any application by Issuer to conduct a banking business has been denied; or (iv) from the SEC or any other federal or state regulatory authority that a stop or similar order has been issued with respect to the Offering Document and has remained in effect for at least 20 days, NCPS shall pay to each Subscriber by the same method the amount of the Cash Investment received by NCPS from such Subscriber or promptly return to Subscriber such Subscriber’s Cash Investment Instrument; provided that amounts in excess of $25,000 will be returned via wire transfer upon confirmation by NCPS of Subscriber’s account information. (c) Notwithstanding anything to the contrary contained herein, if NCPS shall not have received an Instruction Letter on or before the Expiration Date or the Termination Date (as defined below), subject to Section 5, NCPS shall, within three Business Days after such Expiration Date or Termination Date and receipt from Subscriber of any required payment instructions, and without any further instruction or direction from Issuer Party, pay to each Subscriber by the same method the amount of the Cash Investment received by NCPS from such Subscriber or promptly return to Subscriber such Subscriber’s Cash Investment Instrument; provided that amounts in excess of $25,000 will be returned via wire transfer upon confirmation by NCPS of Subscriber’s account information. (d) Issuer Party shall, or cause Subscriber to, provide NCPS with information sufficient to effect such payment or return to Subscriber as outlined in this Section 4, including, without limitation, updated payment information in the event a payment or return to Subscriber for any reason cannot be made by the same method as received by NCPS.

  • Disbursements of Escrow Funds (a) Escrow Agent shall disburse Escrow Funds at any time and from time to time, within two (2) Business Days of receipt of, and in accordance with, a Joint Written Direction. Such Joint Written Direction shall contain complete payment instructions, including wire transfer instructions or an address to which a check shall be sent. By signing this Agreement, each of the Parties agrees to execute and provide Joint Written Directions as are consistent with the provisions and intent of the Underlying Agreement and this Agreement. (b) Within two (2) Business Days of receipt of a written notification from either Party of a Final Order (with a copy of such written notification provided concurrently to the other Party), which notification will attach a copy of such Final Order, instructing Escrow Agent that a Party or other person is entitled to the release of Escrow Funds pursuant to the Underlying Agreement, Escrow Agent shall release such Escrow Funds in accordance with such Final Order and accompanying instructions. Any such Final Order delivered to Escrow Agent shall be accompanied by a certificate from the Party delivering the Final Order (with a copy of such certificate provided concurrently to the other Party) confirming that such Final Order is final and nonappealable and issued from a court of competent jurisdiction, and that the accompanying instructions are in accordance with such Final Order. Escrow Agent shall be entitled to conclusively rely upon such certification and instructions and shall have no responsibility to make any determination as to whether the Final Order is from a court of competent jurisdiction or is final and nonappealable. (c) Prior to any disbursement, Escrow Agent shall have received reasonable identifying information regarding the recipient so that Escrow Agent may comply with its regulatory obligations and reasonable business practices, including without limitation a completed United States Internal Revenue Service (“IRS”) Form W-9 or Form W-8, as applicable. All disbursements of funds from Escrow Funds shall be subject to the fees and claims of Escrow Agent and the Indemnified Parties pursuant to Section 10 and Section 11. (d) Each of Purchaser and the Seller Representative may deliver written notice to Escrow Agent in accordance with Section 14 changing such Party’s wire transfer instructions, which notice shall be effective only upon receipt by Escrow Agent. (e) Escrow Agent shall, within five (5) Business Days of the end of each calendar month, deliver to Purchaser and the Seller Representative a statement setting forth (i) the aggregate amount of Escrow Funds so released or disbursed, (ii) the recipient of such disbursement or release, (iii) whether such disbursement or release was made from the Adjustment Escrow Account, the Indemnity Escrow Account, or the Interim Breach Escrow Account, and (iv) the respective balances of the Adjustment Escrow Account, the Indemnity Escrow Account, and the Interim Breach Escrow Account as of such date after giving effect to such disbursement or release. Promptly upon receipt of the Escrow Funds, Escrow Agent shall provide Purchaser and the Seller Representative with permissions to view the Adjustment Escrow Account, the Indemnity Escrow Account, and the Interim Breach Escrow Account via the Internet at no additional cost.

  • Delivery of Escrow Funds Upon confirmation by Escrow Agent that the following conditions have been satisfied, Escrow Agent shall disburse the Escrow Funds to Recipient in connection with the closing of the purchase of the Property or other interest therein: (a) Escrow Agent has confirmed that Recipient has sufficient funds to complete the purchase of, or acquisition of other interest approved by the Director in and to, the Property (the “Closing”) and to pay all costs, fees and expenses to be paid by Recipient with respect thereto as disclosed on the settlement statement prepared by Escrow Agent and signed by Recipient and Seller (the “Settlement Statement”). (b) Upon recording of the Conveyance Instrument (as defined in subsection (d) of this Section 2), (i) Recipient will hold marketable title to the Property or (ii) if Recipient is acquiring an interest in the Property other than fee simple, as approved by the Director, Seller holds marketable title to the Property and has granted a valid interest in the Property to Recipient pursuant to the Contract. (c) If the Contract requires, or Recipient has requested and agreed to pay for, a title insurance policy with respect to the Property (the “Title Policy”), Escrow Agent, as title insurer or agent therefor, is prepared to issue the Title Policy to Recipient. (d) Escrow Agent is prepared to record, on the date of Closing, (i) the deed, or other instrument appropriate for the interest in the Property to be conveyed pursuant to the Contract, from Seller to Recipient with respect to the Property (the “Conveyance Instrument”), and (ii) the deed restrictions approved by the Director with respect to the Property (the “Deed Restrictions”). (e) If Escrow Agent is an agent of a title insurance company, Escrow Agent has caused an insured closing letter to be issued to OPWC by such title insurance company with respect to Escrow Agent’s acts in connection with the Closing and Escrow Agent’s performance of its obligations under this Agreement.